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Walk Street Slip In Oil Prices

New York (Benchmark News) – stocks on Wall Street ended lower on Thursday (20/10/2016), due to a sharp decline in oil prices weighs on the market.

Index Dow Jones Industrial Average was down 0.22 points or 40.27 percent to close at 18,162.35. S&P 500 index lost 0.14 2.95 points or percent to end at 2,141.34, and the Nasdaq composite index slumped 4.58 points or 0.09 percent to 5,241.83.

Oil prices fell on Thursday, with both U.S. crude contract and Brent crude down more than two percent, as investors became cautious after strong gains posted recently.

In corporate news, shares of Verizon were down 2.46 percent to 49.14 u.s. dollars per share after the company delivered a quarterly profit above estimates but revenues were below estimates.

On the economic side, in the week ending October 15, numbers introduction to unemployment initial claims reached a seasonally adjusted 260,000, increased level of 13,000 revised the previous week, the US Labor Department announced on Thursday.

The average movement of four weeks achieving 251,750, increased from an average of 2,250 revised the previous week.

Overseas, the European Central Bank (ECB) on Thursday decided not to change interest rates for the euro area, or expand its asset purchase program monthly 80 billion euros (about 88 billion u.s. dollars).

European equity markets rally on Thursday after the ECB decision. Reference index DAX at the stock exchanges of Frankfurt, Germany, up 0.52 per cent, while the FTSE 100 index rose United Kingdom 0.07 percent.

In Asia, Chinese shares barely move on Thursday as the market digested the implications of the new economic data released this week. The Shanghai Composite index down thin 0.01 percent to 3,084.46 points…(Red)

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